Paramount in talks to invest 7 bln usd in theme park in China,Forbes,2006.3.28

BEIJING (AFX) - Tianjin's local government is in talks with US entertainment giant Paramount about a seven bln usd investment in a theme park in the municipality, the South China Morning Post reported.

The Hong Kong newspaper cited deputy director of the Tianjin Binhai New Area administration Song Lianxin as saying: 'Our district will see a Paramount theme park. The US party will invest seven bln usd to build the park with us.'

But Tianjin government information office deputy director Gong Tieying said the two parties are still in talks and had not signed any agreement.

The park would be in a 75 sq km 'seaside leisure' block, part of the Binhai development area being promoted to Hong Kong investors, the paper said.